How to Close a Commodities Position on Pluang

Go to Explore → Commodities → Leverage and open the instrument you hold. In the "Your Position" card, tap Close Position, check the details and confirm. Your realized profit or loss is credited to your USD Margin (Commodities) wallet. To exit at a price you choose instead, you can place a Limit or Stop order in the opposite direction, which offsets your position.

 

Related questions:

Q: What fees do I pay when I close a position?
The JFX & KBI fee of US$0.10 per lot, capped at US$1 per order, plus 11% VAT, the same as on opening. Pluang currently charges no transaction fee on Commodities (0%). On 1 lot of gold, opening and closing costs about US$0.22 in total.

Q: Can I exit at a price I choose?
Take Profit and Stop Loss are coming. For now, you can place a Limit or Stop order in the opposite direction to exit at a price you choose. Because you hold one net position per instrument, that order offsets your position rather than opening a separate one. A Limit or Stop order might not fill, though: if it can't be filled in full when its price is reached in a fast market, it shows as Failed and nothing is filled, so keep watching your position.

Q: Can I reduce a position instead of closing it?
An order in the opposite direction offsets your existing position, reducing or closing it, rather than opening a separate one. You can't hold a Long and a Short on the same instrument.

Q: Can Pluang close my position for me?
Yes, through liquidation. If your wallet's margin level falls to 50%, Pluang closes your worst-performing position in full, then checks your margin level again. If it's still at 50% or below, it closes the next one.

Q: Do I pay swap when I close?
Swap isn't a closing fee. It's charged or credited at each daily rollover, 05.00 WIB (04.00 WIB during US Daylight Saving Time), on positions still open. A position opened and closed between two rollovers has no swap.

 

Before you start, make sure:

• You have an open Commodities position
• The market is open, because you can't place orders while it's closed: Monday 06.00 WIB to Saturday 05.00 WIB, with a daily break of 05.00–06.00 WIB for gold and silver and 05.00–08.00 WIB (Tuesday to Friday) for Brent crude; during US Daylight Saving Time, every time is one hour earlier
• You know that each instrument has one net position, which combines all the lots you hold in it at a weighted-average entry price
• You know that the JFX & KBI fee, plus 11% VAT, applies when you close as well as when you open, and that the closing price includes the spread